Greece to face inspectors as Germany hints bailout

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Reuters
Sept 28, 2011

Greece’s lenders are sending a team to Athens to inspect a government austerity plan they want implemented in exchange for aid, while Germany suggested a new bailout may have to be renegotiated.

Facing a wave of strikes and protests, Greece’s Socialist governmentis accelerating its debt strategy to meet the terms of an International Monetary Fund and European Union rescue deal so it can receive a new loan next month and avoid bankruptcy.

The “troika” team of inspectors, which had threatened to cut off aid if Athens did not move faster, will begin talks on Thursday on a plan demanded by lenders to deepen budget cuts and raise taxes, which has set off protests not seen since June when riot police fought running battles with activists.

“I can confirm the Eurogroup (of euro zone ministers) will hold an additional meeting as soon as possible, still in October, to discuss the situation of Greece and consider the disbursement of the next tranche,” a European Commission spokesman said in Brussels, announcing the troika’s return.

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3 Responses to “Greece to face inspectors as Germany hints bailout”

  1. Dominos falling! One by one. They should let Greece fall and watch the results on TV as a warning on what happens when a country goes to pieces. Coming to a country near you…

  2. My word to the Greeks:

    Arrest the bastards as soon as they arrive! Then try them for theft, fraud, graft, corruption, well – you know your country’s laws better than I do!!!

  3. Sorry, but I don’t agree 100% with you regarding this… there’s more to it.

    – Mike

    click on profile name for more info on my latest video: “HOW WILL YOU FACE THE AMERICAN APOCALYPSE IN 2011: how you can protect yourself and position yourself for the greatest wealth transfer in history.”

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